Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2020

The table below summarizes the components of lease expense and income statement location for the three months ended March 31, 2020 and 2019:


	Line Item in the Company’s Consolidated Statements of Operations	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Finance lease costs:
Amortization of assets	Depreciation and amortization	$	10,554	$	6,169
Interest on lease liabilities	Other expense, net	2,283		1,911
Total finance lease costs		12,837		8,080
Operating lease costs	General and administrative expenses	849,891		697,755
Total lease costs		$	862,728	$	705,835

Supplemental information and balance sheet location related to leases is as follows:


	March 31, 2020			December 31, 2019
Operating Leases:
Operating lease right-of -use asset	$	12,430,910		$	12,486,672
Operating lease liability - current portion	$	2,497,097		$	2,313,109
Operating lease liability - net of current portion	11,856,766			11,901,040
Total operating lease liability	$	14,353,863		$	14,214,149
Finance Leases:
Property and equipment, at cost	$	232,001		$	80,604
Less accumulated amortization	(35,228)			(24,675)
Property and equipment, net	$	196,773		$	55,929
Finance lease liability - current portion	46,607			24,253
Finance lease liability - net of current portion	156,227			34,398
Total finance lease liabilities	$	202,834		$	58,651
Weighted average remaining lease term (in years):
Operating leases	5.2			5.4
Finance lease	5.1			2.3
Weighted average discount rate:
Operating leases	8.6		%	8.7		%
Finance leases	5.7		%	10.0		%

Supplemental cash flow information related to leases is as follows:


	Three Months Ended March 31, 2020		Three Months Ended March 31, 2019
Cash paid for amounts included in measurement of liabilities:
Operating cash flows from operating leases	$	765,093	$	735,426
Operating cash flows from finance leases	2,283		1,911
Financing cash flows from finance leases	7,214		5,285

Non-cash transactions: ROU assets obtained in exchange for lease liabilities
Operating lease	$	549,004	$	—
Finance lease	151,396		80,604

Maturities of lease liabilities as of March 31, 2020 are as follows:

Maturities of lease liabilities as of March 31, 2020 are as follows: